TEPCO, owner of the Fukushima nuke, whose lackadaisical handling of the fiasco is a fiasco itself, was bailed out by taxpayers after the disaster. It got another bailout as the government decided to deal itself with the radioactive groundwater leaking into the ocean. TEPCO should be bankrupt. But to add insult to injury, the government said, let’s not hurt investors!
Energy
Colorado’s Fracking Industry At Threat From The Floods?
by Oilprice.com • • Comments Off on Colorado’s Fracking Industry At Threat From The Floods?
Colorado, one of the most densely fracked areas in the US, is experiencing some of the worst flooding it has ever seen, and people are beginning to worry about the stability of those fracking sites and wells, many of which have been completely covered by the floodwater and are leaking (with video of leaking wells).
How the Arab Spring Shakes Up The Oil Markets
by Contributor • • Comments Off on How the Arab Spring Shakes Up The Oil Markets
Canada Builds Pipelines To Export Oil To Asia (At Higher Prices) As US Stalls on Keystone XL
by Contributor • • Comments Off on Canada Builds Pipelines To Export Oil To Asia (At Higher Prices) As US Stalls on Keystone XL
The Undead Corporate Welfare Programs For Automakers
by Wolf Richter • • Comments Off on The Undead Corporate Welfare Programs For Automakers
They’re at it again! Originally created by Congress in 2007, the Advanced Technology Vehicle Manufacturing Program provided low-cost government loans that were subsidized, and then in part eaten as we now know, by hapless and strung-out American taxpayers. In 2011, it was left behind as dead, but now the government wants to bring that zombie back.
The Shale by Rail Revolution: A Lasting Phenomenon
by Oilprice.com • • Comments Off on The Shale by Rail Revolution: A Lasting Phenomenon
The US shale revolution is leaving its marks. In 2009, the US surpassed Russia as the world’s largest producer of natural gas. In May, production exceeded imports for the first time in 16 years. In 2020, the US might overtake Saudi Arabia as the top oil-producing nation. But there aren’t enough pipelines in place to handle it.
An Inconvenient Truth: How Carbon Trading Is Enriching Polluters and Destroying the Environment
by Don Quijones • • Comments Off on An Inconvenient Truth: How Carbon Trading Is Enriching Polluters and Destroying the Environment
Germany’s Government-Sponsored Export Machine Takes Aim At Greece, Argument Breaks Out
by Wolf Richter • • Comments Off on Germany’s Government-Sponsored Export Machine Takes Aim At Greece, Argument Breaks Out
When going overseas, Chancellor Merkel doesn’t leave home without planeloads full of executives from Germany’s most coddled companies – exports being the core of foreign policy. And if these deals get snagged on the rusty nails of payment risks, it’s up to the government to help out with guarantees, even if they’re infested with conflicts.
“Who Could Trust Such A Company?” – The Big Fat Lies About Radiation Exposure Of Workers At Fukushima
by Wolf Richter • • Comments Off on “Who Could Trust Such A Company?” – The Big Fat Lies About Radiation Exposure Of Workers At Fukushima
The nuclear fiasco in Japan has shaken the omnipotent nuclear industry – and government agencies that aided and abetted it. Yet they still obfuscate the consequences of the triple melt-down. Latest revelation: the number of workers at the plant with cancer-inducing radiation doses in thyroid glands was eleven times higher than disclosed last December.
Austrian Steelmaker Offshores Production To … Texas
by Wolf Richter • • Comments Off on Austrian Steelmaker Offshores Production To … Texas
Voestalpine, an Austrian steelmaker with 46,000 employees, saw its revenues decline by 4% last year. It blamed the “cooling down of the global economy,” and “dwindling momentum in Asia (especially China).” Now it’s under pressure to cut costs. Hence offshoring to cheap countries! China or Indonesia? Nope.